BHS in Slough set to close following failure to sell the business

The BHS store in Slough could be set to close as administrators confirmed it could not strike a deal to sell the business.

When the chain, which has a store in Slough High Street, went into administration in April, financial company Duff & Phelps were appointed to step in to try and save the company.

Today (Thursday), Duff & Phelps confirmed despite multiple offers, none were able to complete a deal due the working capital required to secure the future of the company.

Philip Duffy, managing director of Duff & Phelps, said: "The British high street is changing and in these turbulent times for retailers BHS has fallen as another victim of the seismic shifts we are seeing.

"The tireless work and goodwill of the existing management team and employees of BHS, with the support of my team, were not enough to change the fortunes of the company."

Administrators also stated the jobs of 8,000 staff are ‘likely to go’ and a further 3,000 jobs of non BHS employees who work in the store’s concessions ‘may also be at risk’.